US supplier of specialty gas products, Air Products & Chemicals Inc. (NYSE: APD) is selling its European homecare business to The Linde Group for euro 590 million (about $750 million). The company’s CEO said this in the announcement:
Over many years, our Continental European Homecare team has run a successful business, helping us to build several leadership positions. With the more recent trends towards concentrators and non-oxygen therapies, we feel it is no longer a natural fit with our core gases business. Our growth strategy lies in the energy, environmental and emerging markets in which we continue to see significant opportunities.
The company is also “assessing” its homecare businesses in the UK, Ireland, Brazil, and Argentina. The company said it will continue to operate these businesses and compete for new business.
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